Thursday, Sep 07, 2006

Why don't they just rent ?

Daily Mail: Friends join forces to get on property ladder

Britains biggest bank, HSBC, said it has seen a 50 per cent rise in group loans. These allow up to four friends to club together in a single mortgage so that they can buy a property that would otherwise be way beyond their reach.

Posted by uncle chris @ 11:07 PM (551 views)
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9 Comments

1. kpjcomp said...

My god there getting really desperate now!!

First Deathbed mortgages, now this..

I've also notised in our local rag, that new home builds are doing exactly what the US builders have being doing.
Things like 20,000 cash back, 5% deposit paid, carpets thrown in, show home decor etc. I'm sure I'll be seeing free Sports Car etc. soon.
Just to make the selling price look good, but as we've found that only works for so long, as the US has proven.
Anyway I don't think private sellers will be doing this, and new houses are guff nowadays, trying to fit 16 houses into 7 sqr feet etc.

Friday, September 8, 2006 01:31AM Report Comment
 

2. waitingfor hpc said...

i had a look round a 2 bed flat with 1 car parking space. Open kitchen & lounge. Very Small. Asking price 260,000 ??
1 hour by train from london? - Very, very over priced.

Sales women agreed they were silly with 1 car space, she also agreed that it was wrong but 25% of development was for social housing & shared ownership of which i would have no chance of enjoying.

Friday, September 8, 2006 09:24AM Report Comment
 

3. the bald man said...

The question is why woudl any one want to do this. Like all partnerships the divorce always happens. What a hassle sorting that out!. Why not just rent and stay flexible.

Friday, September 8, 2006 10:50AM Report Comment
 

4. Cstanhope707 said...

Stupidity should be rewarded so lets hope the stupidity of these people is when HPC happens....

Basic Question remains why would you only buy part of a house, are people going to live with friends into retirement.....

Friday, September 8, 2006 12:48PM Report Comment
 

5. George Monsoon said...

I have no sympathy for people stupid enough to see this as a good idea. Everyone on this site is aware of the current housing situation and knows that this bubble has already burst, its just a question of time before the shockwave hits us all. I am renting at present. I consider myself very lucky to be in this position. I have no debt, and a little bit of savings tucked away.

Friday, September 8, 2006 01:33PM Report Comment
 

6. Sam. said...

the bald man said... "Like all partnerships the divorce always happens."

Such a negative view on life, am sure they all wont end in divorce. Although few friendships as long as marriages do.

In the 80/90's crash, estate agents were chucking in porsche 944s with flat purchases in docklands. trying to pick up the last of the yuppies who could buy a flat if they'd not lost everything in the 87 stockmarket crash.

wow, 944's remember them? - pretend sports cars, a lot like all the boxters/z3s/z4s and audi tt's you see being driven around these days...

Friday, September 8, 2006 02:47PM Report Comment
 

7. P. O. O. R said...

waiting for hpc said "2 bed flat with 1 car parking space. Open kitchen & lounge. Very Small. Asking price 260,000 ??" ---- If you took 100K off from that price it would still be overpriced! - home builders offering BIG deals just goes to show that they are priced too high. I was told a few years ago, that the aim is to build 11 detached houses on 1 Acre of land - I wonder what they do now?

Friday, September 8, 2006 02:55PM Report Comment
 

8. George Monsoon said...

Why bother posting anything on here, My comments never apear on the board. I just get ignored like my MP ignores me when I lobby for a law against owning a second home.!!

Friday, September 8, 2006 04:53PM Report Comment
 

9. Cstanhope707 said...

Can I share a mortgage with Crash Gordon and Roman Abramovich???

Friday, September 8, 2006 05:49PM Report Comment
 

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